There are many things auto insurance firms would rather their customers not know about. But, these secrets will actually help prospective policy buyers like you save a lot of money. Here, we reveal some of these key secrets to you.
The Assets that Are in The Vehicle Are Not Covered by Auto Insurance
If you have devices like your iPhone or laptop or any other item of value in the vehicle with you at the time of the accident and these items happen to get damaged, most basic car insurance plans will not cover them. There are, of course, special policies you can get if you want this extra coverage.
Good Credit Can Make a Difference
Almost all car insurance companies will check your credit score when calculating your premiums. This is because your credit score helps auto insurance companies determine how likely you are to file a claim and your ability to pay premiums in the long run. That’s why it’s a good idea to check your credit score and work towards improving it in order to get an affordable auto insurance plan.
Paying in Advance May Help Save Money
You can pay for car insurance in multiple ways. You can pay on a monthly, semi-annual, or annual basis. But, the more of your premium you pay in advance, the more you are likely you save since each payment could cost you a certain administrative fee. If you break up these payments and pay your premiums every month, the fees can really add up.
You Are Also Responsible for Others Who May Be Driving Your Car
Just because you were not driving your car at the time of the accident does not mean you won’t have to file a claim with the insurance company and pay up. Even if you lend your car to your friend and they get into an accident, you’ll be required to file a claim with your auto insurance company.
You Can Switch Your Auto Insurance Company at Any Time
Many policyholders are not aware that they have the option of switching policies or companies at any time. In fact, many times, when you cancel your existing policy (after purchasing a new one), you’ll even get a refund of the premium you’ve already paid.